Hello, thank you for stopping by my website, Sierra Foothills Reverse Mortgage, I am Grass Valley’s only specialty reverse mortgage provider. You are here because you are thinking about a reverse mortgage loan and frequently Grass Valley and Nevada City clients ask me, “Why would I want to work with a local reverse mortgage specialist? We’re considering working with a call center loan officer in another city, but then I’d be with a major reverse mortgage lender. What’s the difference working with you?”
I have 12 years of experience exclusively in reverse mortgage loans and I am an authorized representative to place loans with all 11 of the major reverse mortgage lenders affording me the flexibility to shop rates and fees with these different lenders on your behalf and I work on your behalf as I push your loan to a successful completion. It takes skill and adaptability to do so. Do you have a favorite reverse mortgage lender? I can place your loan with that lender but be on your side, advocating and negotiating for you here locally with the lender, you’re then not dealing with a faceless loan officer in a distant call center.
You can complete your loan by appointment in my office, however much of it can be done from your home by phone, mail and email during these Covid stressful times. One complaint I often hear when folks give working with a distant lending call center and transfer the loan to me for completion is that they could never get through to anyone to talk to about their loan once their application had been submitted. That is not the case with me, I will typically always return your call the same day, if you called late in the day it may not be until the next day that I return your call, but it would never be longer than that amount of time.
Interestingly, I have worked on both sides of the aisle: for about 4 years I was a call center reverse mortgage loan officer, and 8 years I’ve worked here Grass Valley from my office meeting with clients. During Covid most of the loans can be done from your home. I know that working locally with clients allows me to supervise their loan with great detail and I am always available by phone for questions. In a call center, once the loan officer takes your loan application you will rarely talk to the loan officer again, you loan will be thrown into a processing center, there is no one to advocate for you or take a personal approach to untangling any problems that may arise on your loan.
Do problems arise on these loans? Sometimes yes, in particular because we live in the country and lenders will make incorrect assumptions about your property easements, septic system or well. Correctly structuring the loan in your favor to present to the lender is extremely important, not know what you’re doing because of inexperience can cost a borrower the loan!
The expertise on any loan is getting a loan smoothly through the lender’s underwriter while knowing and following all lender and HUD reverse mortgage rules. Frankly anyone with a lending license can take an application, it’s local skillful loan management that can make or break whether your loan is successfully completed.
Please feel free to read some of the other articles I’ve put together from my own writings and other sources over the years all about reverse mortgages.
If you’d like a no obligation consultation give me a call at 530-497-3010, Sincerely, Shawna McDonald, Reverse Mortgage Loan Officer, Grass Valley. Sierra Foothills Reverse Mortgage (530) 497-3010 www.SierraFoothillsReverse.com NMLS #271335 | CalDRE #00585530 Borba Investments Inc. Company NMLS 76801 |Company CalDRE # 014461